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The First Ever TRX-backed Fiat Credit Line

7 29·2 min read
The First Ever TRX-backed Fiat Credit Line

TRON Now Available for Nexo’s Instant Crypto Credit Lines

Nexo, the leading regulated financial institution for digital assets, is expanding its Instant Crypto Credit LinesTM to accept TRON (TRX) as collateral, creating the first ever TRX-backed fiat loans.

With this collaboration, Nexo expands its service to give TRX users access to its Earn on Crypto product, a high-yield interest service where users may receive up to 5% interest on crypto and 10% on stablecoins and fiat. TRON ecosystem’s versatile use cases, high-throughput network, and decentralized blockchain make it a progressive partner for Nexo.

“When blending elements from DeFi into CeFi you get the best of both worlds. TRON’s blockchain technology enables developers to create smart contracts and decentralized applications (DApps), displaying how the TRX integration is yet another step towards the Defi-enhanced centralized finance model Nexo is pursuing,” commented Antoni Trenchev, Co-founder and Managing Partner of Nexo.

"We support Nexo's vision for blockchain technology exploration in CeFi to DeFi," said Justin Sun, Founder of TRON and CEO of BitTorrent. "Nexo and TRON marry desirable attributes from two different philosophies. Together, TRX users now enjoy attractive yields and faster transactions with secure infrastructure. Our mission is to bring blockchain to everyone and Nexo empowers our ability to do so."

TRX is the native token of the TRON blockchain. The network’s throughput, scalability and effective smart contracts allow it to consistently handle more than 2,000 transactions per second.

Adding TRX to Nexo’s credit lines increases the cryptocurrency’s utility features, eases selling pressure, and makes HODLing stress-free. TRX-backed loans allow investors to borrow against their assets rather than selling them while benefiting from Nexo’s unrivaled interest rates and superior tax-efficient service.

Get an Instant TRX-Backed Credit Line

Nexo offers extensive benefits for TRX investors, including:

  • The best borrowing rates starting from 5.9% APR only on what you actually use
  • The opportunity to earn up to 5% interest on your TRX
  • Increased TRX utility features, less selling pressure and easier HODLing
  • А minimum amount of $500 and a maximum of $2M (larger sums available upon request)
  • Top-tier insurance on all custodial assets with SOC 2 Type 2 certified crypto custodian BitGo
  • #ZeroFees — No hidden fees or FX commissions
  • Automated and guaranteed instant approval with no credit checks
  • No installments and no minimum loan repayments
  • Local bank withdrawals within 24 hours
  • Available worldwide in 40+ fiat currencies across 200+ jurisdictions

See this quick guide on how to access Nexo’s instant crypto-backed loans in three easy steps.

If you are looking to earn interest on your idle TRX, check out this article on using Nexo’s new Earn on Crypto product.

We look forward to updating you on more of our innovations in the near future.

About Nexo

Nexo is the world's leading regulated financial institution for digital assets. The company’s mission is to maximize the value and utility of digital assets by offering tax-efficient ‘Instant Crypto Credit Lines’, high-yield ‘Earn Interest’ products and ‘Send & Pay’ capabilities while providing the $100 million custodial insurance and military-grade security of the Nexo Wallet. After raising $52.5 million in 2018, Nexo has processed $3+ billion for 800,000+ users across 200 jurisdictions.

Official website: https://nexo.io

About TRON

TRON is dedicated to creating a boundary-free internet that inspires innovation across industries. TRON, one of the largest blockchain protocols, offers high throughput, high scalability, and high availability for all Decentralized Applications (DApps). The ecosystem is governed by Super Representatives and the community.

Official website: tron.network

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